Richard Bagger Acquires 1,000 Shares of Tonix Pharmaceuticals (NASDAQ:TNXP) Stock

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Director Richard Bagger purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were bought at an average price of $12.60 per share, for a total transaction of $12,600.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $12,600. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ:TNXP opened at $12.55 on Monday. The company has a 50 day moving average of $11.83 and a 200 day moving average of $13.08. The stock has a market cap of $215.23 million, a P/E ratio of -0.97 and a beta of 1.69. Tonix Pharmaceuticals Holding Corp. has a 12 month low of $9.40 and a 12 month high of $39.45.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its earnings results on Monday, August 10th. The company reported ($2.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative net margin of 548.64% and a negative return on equity of 68.99%. The business had revenue of $13.54 million for the quarter, compared to analyst estimates of $7.72 million. On average, equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -10.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Raymond James Financial reissued a “strong-buy” rating and set a $27.00 price objective on shares of Tonix Pharmaceuticals in a research note on Monday, August 10th. TD Cowen raised Tonix Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tonix Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $24.50.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Tonix Pharmaceuticals during the 2nd quarter valued at about $533,000. State of Wyoming purchased a new stake in Tonix Pharmaceuticals in the fourth quarter worth approximately $27,000. Bank of America Corp DE grew its position in Tonix Pharmaceuticals by 32.7% during the third quarter. Bank of America Corp DE now owns 4,651 shares of the company’s stock valued at $112,000 after acquiring an additional 1,146 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Tonix Pharmaceuticals during the third quarter valued at approximately $29,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Tonix Pharmaceuticals during the second quarter worth approximately $65,000. Institutional investors own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for central nervous system disorders, immunology and rare diseases. The company’s pipeline includes small-molecule and biologic product candidates designed to address conditions such as fibromyalgia, post-traumatic stress disorder (PTSD) and other chronic pain syndromes, as well as vaccines for potential viral and biothreat agents.

Among Tonix’s lead programs is TNX-102 SL, a sublingual formulation of cyclobenzaprine being evaluated for the treatment of fibromyalgia and PTSD.